SACRAMENTO, Calif. – MIOTA (IOTA) has now revealed some details about its mysterious project “Q,” and it has been greeted with enthusiasm by the MIOTA community. The hype surrounding the mysterious project started with a tweet a week ago. This revelation of their secret project has helped IOTA recover from a devastating market crash that the group suffered during the past 8 weeks.
Mysterious Project Q
MIOTA announced in a tweet that they were working on a project – hailed as “mysterious project Q” – that has massive potential. With MIOTA’s new project, investors and traders have seen IOTA perform admirably through its market cap gains.
The team revealed that they developed the initial IOTA charging station used for electric cars and vehicles. This charging station in Netherlands is the first crypto-powered charging station ever created.
Started as a largely independent project of Elaad, the company who created the charging station, IOTA has been anticipating the massive potential associated with their continued work on the project.
This IOTA-powered charging station has a user interface and electric wallet. Aside from that, it has a system of communication that would teach its users about this technology. The cryptocurrency platform used their network Tangle to facilitate the communication of two machines.
IOTA is currently finding ways to improve said system to allow users to communicate even without an internet connection. The application is still the first version developed, but IOTA is eyeing at improving the system for better performance.
With the launch of the electric charging station powered by cryptocurrency, this shows the world how blockchain technology and digital assets can be used to make life easier and simpler. IOTA’s mysterious project “Q” is just the beginning of this convergence.
IOTA’s Market Performance
With the announcement of project Q, IOTA is now experiencing market gains. The trading value of IOTA increased by 8.23% against dollar.
Also, IOTA’s performance against Bitcoin (BTC) is 6.38% better. This commendable performance against BTC is due to how IOTA meets its market demands.
After its devastating market crash, IOTA is recovering at a fast pace, thanks to hype brought on by the mysterious project “Q.” The project has proven to be beneficial to the recovery of the cryptocurrency. IOTA is currently trading at $1.75 per unit, but is still far from its peak trading value listed at $5.45 per unit on December 2017.